How to improve my menu to work with more than 2 selections?

My menu system works like this-

When Y is Pressed:

-Stop time, stop all player control

-Enable the visibility of all HUD elements

-On down pressed, set the pointer object to 'Text' "am_ice" (a capitol letter i)

When a pointer is over one of these text elements, it changes the player's text variable to the corresponding menu element.

Now I have four abilities for the player, and I don't know where to go from here to make it all work.

The issues are:

-I could not find any way to "offset" set position action for the menu selector courser. It is supposed to be right next to the Text elements, but instead it is right on top of them.

-Because there's more than two abilities, I need to completely change the way pressing up and down corresponds to how the courser moves, and I don't know how to accomplish that.

-I also want to menu to go back to the first selection when down is pressed on the last selection. I don't know how to get this done either.

Here's the screenshot:

I have attached a simple menu example that, I hope, covers your needs. It is extensible so if you decide you want to change it to have any number of menu items, you can. It is commented to explain what I did.

I hope that gets you what you need and good luck with your project.